Frequently asked questions

• How is my recommended cover calculated?

  We recommend an insurance coverage amount that considers both your outstanding loans and the recurring expenses of your dependents.
  To calculate the cover needed, we assume: Future expenses will increase due to inflation (usually up to 6% p.a.)Cover received will be invested in an FD or savings account giving returns (usually up to 8% p.a.) to keep pace with inflation.

• What is the right age to buy life insurance?

  The ideal age to buy life insurance is as soon as you start earning and have financial dependents, such as a spouse, children or parents.
  Getting life insurance early helps you secure a lower premium, making it more affordable in the long run.

• Are there any tax benefits on paying life insurance premiums?

  Yes. Life insurance premiums are eligible for tax deductions up to ₹1.5 lakh per financial year, as per Section 80C.

• What can I calculate using the Life Insurance Calculator?

  This calculator can help you estimate your ideal Life Insurance coverage amount. By inputting your specific details, the calculator provides an estimate of the coverage you need to adequately protect yourself and your dependents.

• What information do I need to use the Life Insurance Calculator?

  To use the Life Insurance Calculator effectively, you will need the following information:
  
  

  • Your current age
  • The age till which you wish to be covered
  • Monthly expenses or cash flows required to support your dependents
  • Any one-time loans or liabilities

• Are the estimates from the Life Insurance Calculator accurate?

  The Life Insurance Calculator provides close estimates based on the inputs you provide, but the actual insurance cover needed to take care of your dependents may vary based on future lifestyle changes. 

• Is there a cost associated with using the Life Insurance Calculator? 

  No, the Life Insurance Calculator is free to use online, allowing you to plan your insurance needs without any additional cost.